Crypto Under Pressure: BTC and ETH Bend But Don’t Break
The week ends on a cautious note for crypto markets. Bitcoin (BTC) trades at $66,036, down 4.2% over seven days, while Ethereum (ETH) falls to $1,939, a weekly loss of 6.1%. Trading volumes remain moderate, a sign of general wait-and-see.
Analysis: The Weight of Macroeconomics
Two factors weighed on the market this week. First, the minutes from the Federal Reserve’s meeting, released Wednesday, confirmed a hawkish stance: interest rates remain high (5.50%), and no cut is expected before September 2026 at the earliest. This tightening environment penalizes risk assets, including crypto.
Second, the US Consumer Price Index (CPI) for May, released Thursday, surprised to the upside (+3.6% year-over-year vs. 3.4% expected). Core inflation (excluding food and energy) remains sticky at 3.8%. Result: equity markets corrected 1.5-2%, and crypto followed.
On the regulatory front, the SEC announced a public consultation on spot Ethereum ETFs. While positive in the long run, it was not enough to support ETH’s price, held back by macro factors.
Outlook: Waiting Zone
Bitcoin is currently testing the $65,000 support level, a key threshold. A technical rebound is possible early next week, but the trend remains fragile. If $65,000 gives way, a pullback toward $62,000 is conceivable.
For Ethereum, the psychological $1,900 level is crucial. A weekly close below this level would open the path toward $1,800.
Watch for: the European Central Bank (ECB) meeting next Thursday, and US retail sales. In the absence of a strong catalyst, the market could remain in a tight range.
In summary: the week was dominated by macroeconomics and caution. Neither panic nor euphoria: the market is waiting for a clear signal to choose its direction.
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